Oil Rebounds; Natural Gas, Gold Advance: Commodities at Close
The Standard & Poor’s GSCI gauge of 24 commodities gained 0.5 percent to 609.06 at 4:59 p.m. Singapore time. The UBS Bloomberg CMCI index of 26 raw materials rose 0.4 percent to 1510.4.
CRUDE OIL
Oil rebounded from the lowest close in more than a week in New York on speculation that declines may have been excessive amid shrinking stockpiles in the U.S., the world’s biggest crude consumer.
This means that natural gas is a very viable for automotive demands and we may soon find more and more cars that run on natural gas. oil companies calgary are also setting aside subsidiaries for natural gas.